ME8U Stock Analysis: Mapletree Industrial Trust | SG
REIT - Industrial | SG, Singapore | Market Cap: 5.482m SGD | 12M Return: -0.3% | SG2C32962814 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 12.0M
EPS Trend: -64.7%
Qual. Beats: 0
Rev. Trend: 25.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Mapletree Industrial Trust (MIT) is a real estate investment trust (REIT) listed on the Main Board of the Singapore Exchange, focused on income-producing industrial real estate. Its investment strategy centres on a diversified portfolio of industrial properties in Singapore and data centres outside Singapore, alongside real estate-related assets. As a Singapore-listed REIT, MIT is required to distribute at least 90% of its taxable income to unitholders to qualify for tax transparency treatment under Singapores REIT regime.
As at 31 March 2026, MITs total assets under management stood at S$8.3 billion, comprising 55 properties in North America (including 13 data centres held through a joint venture with Mapletree Investments Pte Ltd), 79 properties in Singapore, and two properties in Japan. The portfolio spans four property segments: Data Centres, Hi-Tech Buildings, Business Space, and General Industrial Buildings. Revenue is generated primarily through long-term leases with corporate tenants, a model common to industrial REITs that provides relatively stable rental cash flows.
MIT is managed by Mapletree Industrial Trust Management Ltd. and sponsored by Mapletree Investments Pte Ltd. The trust was incorporated in 2008 in Singapore. It is classified under the GICS Industrial REITs sub-industry within the Real Estate sector.
- Data centre segment expansion accelerates AI-driven revenue growth
- Higher interest rates pressure distribution yields and refinancing costs
- Singapore industrial portfolio occupancy remains resilient above 90%
| Net Income: 221.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.00 > 1.0 |
| NWC/Revenue: -75.36% < 20% (prev 13.73%; Δ -89.08% < -1%) |
| CFO/TA 0.05 > 3% & CFO 433.6m > Net Income 221.7m |
| Net Debt (5.01m) to EBITDA (436.6m): 0.01 < 3 |
| Current Ratio: 0.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.86b) vs 12m ago 0.14% < -2% |
| Gross Margin: 64.78% > 18% (prev 64.54%; Δ 0.24% > 0.5%) |
| Asset Turnover: 7.67% > 50% (prev 7.85%; Δ -0.19% > 0%) |
| Interest Coverage Ratio: 5.35 > 6 (EBIT TTM 436.5m / Interest Expense TTM 81.6m) |
| A: -0.06 (Total Current Assets 115.7m - Total Current Liabilities 595.5m) / Total Assets 7.94b |
| B: 0.07 (Retained Earnings 538.4m / Total Assets 7.94b) |
| C: 0.05 (EBIT TTM 436.5m / Avg Total Assets 8.30b) |
| D: 1.66 (Book Value of Equity 4.95b / Total Liabilities 2.99b) |
| Altman-Z'' = 1.92 = BBB |
| DSRI: 0.77 (Receivables 15.9m/22.1m, Revenue 636.6m/681.1m) |
| GMI: 1.00 (GM 64.54% / 64.78%) |
| AQI: 1.07 (AQ_t 0.99 / AQ_t-1 0.92) |
| SGI: 0.93 (Revenue 636.6m / 681.1m) |
| TATA: -0.03 (NI 221.7m - CFO 433.6m) / TA 7.94b) |
| Beneish M = -3.23 (Cap -4..+1) = AA |
As of August 26, 2026, the stock is trading at SGD 1.93 with a total of 4,492,300 shares traded. Over the past week, the price has changed by +1.05%, over one month by +1.61%, over three months by +0.57% and over the past year by -0.29%.
Current recommended Stop Loss: 1.80 (which is 6.7% or 6.5 ATR below the current price).
Mapletree Industrial Trust has no consensus analysts rating.
P/E Trailing = 27.4286
P/E Forward = 15.9236
P/S = 8.3342
P/B = 1.1018
P/EG = 1.0902
Revenue TTM = 636.6m SGD
EBIT TTM = 436.5m SGD
EBITDA TTM = 436.6m SGD
Long Term Debt = 2.08b SGD (from longTermDebt, last quarter)
Short Term Debt = 470.3m SGD (from shortLongTermDebt, last quarter)
Debt = 100.7m SGD (Leases only: 100.7m)
Net Debt = 5.01m SGD (calculated: Debt 100.7m - CCE 95.7m)
Enterprise Value = 5.49b SGD (5.48b + Debt 100.7m - CCE 95.7m)
Interest Coverage Ratio = 5.35 (Ebit TTM 436.5m / Interest Expense TTM 81.6m)
EV/FCF = 12.66x (Enterprise Value 5.49b / FCF TTM 433.5m)
FCF Yield = 7.90% (FCF TTM 433.5m / Enterprise Value 5.49b)
FCF Margin = 68.09% (FCF TTM 433.5m / Revenue TTM 636.6m)
Net Margin = 34.83% (Net Income TTM 221.7m / Revenue TTM 636.6m)
Gross Margin = 64.78% ((Revenue TTM 636.6m - Cost of Revenue TTM 224.2m) / Revenue TTM)
Gross Margin QoQ = 65.30% (prev 62.96%)
Tobins Q-Ratio = 0.69 (Enterprise Value 5.49b / Total Assets 7.94b)
Interest Expense / Debt = 81.05% (Interest Expense 81.6m / Debt 100.7m)
Taxrate = 15.26% (40.0m / 261.9m)
NOPAT = 369.9m (EBIT 436.5m * (1 - 15.26%))
Current Ratio = 0.19 (Total Current Assets 115.7m / Total Current Liabilities 595.5m)
Debt / Equity = 0.02 (Debt 100.7m / totalStockholderEquity, last quarter 4.95b)
Debt / EBITDA = 0.01 (Net Debt 5.01m / EBITDA 436.6m)
Debt / FCF = 0.01 (Net Debt 5.01m / FCF TTM 433.5m)
Total Stockholder Equity = 5.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.67% (Net Income 221.7m / Total Assets 7.94b)
RoE = 4.34% (Net Income TTM 221.7m / Total Stockholder Equity 5.11b)
RoCE = 6.08% (EBIT 436.5m / Capital Employed (Equity 5.11b + L.T.Debt 2.08b))
RoIC = 5.06% (NOPAT 369.9m / Invested Capital 7.31b)
WACC = 6.06% (E(5.48b)/V(5.58b) * Re(6.17%) + (debt cost/tax rate unavailable))
Discount Rate = 6.17% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.23 | Cagr: 2.60%
[DCF] Terminal Value 74.22% ; FCFF base≈449.3m ; Y1≈419.4m ; Y5≈383.9m
[DCF] Fair Price = 2.12 (EV 6.07b - Net Debt 5.01m = Equity 6.06b / Shares 2.86b; r=8.35% [WACC [floored]]; 5y FCF grow -8.39% → 2.50% )
EPS Correlation: -64.68 | EPS CAGR: -5.65% | SUE: 0.0 | # QB: 0
Revenue Correlation: 25.36 | Revenue CAGR: 0.74% | SUE: -0.32 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.03 | Chg30d=N/A | Revisions=+0% | Analysts=2
EPS next Quarter (2026-12-31): EPS=0.03 | Chg30d=N/A | Revisions=+0% | Analysts=2
EPS current Year (2027-03-31): EPS=0.12 | Chg30d=-0.17% | Revisions=-17% | GrowthEPS=+7.0% | GrowthRev=-4.0%
EPS next Year (2028-03-31): EPS=0.12 | Chg30d=-1.63% | Revisions=-29% | GrowthEPS=+0.4% | GrowthRev=+1.7%
[Analyst] Revisions Ratio: -30% (up=2, down=5)